20,696 Shares in Regions Financial Corporation (NYSE:RF) Acquired by Ramiah Investment Group

Ramiah Investment Group purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,696 shares of the bank's stock, valued at approximately $450,000. Regions Financial comprises 0.5% of Ramiah Investment Group's investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Picton Mahoney Asset Management lifted its holdings in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC bought a new position in shares of Regions Financial during the 4th quarter worth about $32,000. Rossby Financial LCC acquired a new stake in Regions Financial in the 1st quarter valued at $36,000. Grove Bank & Trust boosted its stake in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after buying an additional 2,078 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.9%

Shares of NYSE RF traded up $0.22 during trading hours on Thursday, hitting $24.85. The company had a trading volume of 6,482,292 shares, compared to its average volume of 8,383,421. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $22.33 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The firm's 50 day moving average is $22.34 and its 200-day moving average is $22.39.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the company posted $0.37 earnings per share. On average, analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.02%. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.

Analysts Set New Price Targets

Several analysts have weighed in on RF shares. Citigroup upped their price objective on shares of Regions Financial from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Cowen assumed coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average target price of $26.15.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.